Chicago Real Estate Perspective

Dave Nimick: Are We Heading for Another Crash?

Episode Summary

In this episode, Dave discusses: Similarities between current and 2005-2008. Differences between now and the mortgage meltdown era. Dave’s predictions of what is going to happen in the next couple of years. What factors are important in real estate predictions. Key Takeaways: Appreciation has been greater over the last few years than ever before. The underwriting process of mortgages has changed dramatically. Banks on the whole are a lot more responsible than they were before. Average home owner equity is more than double what it was before the mortgage meltdown. It is currently the highest it has been since the late 1980s. We are coming off the lowest rates in the history of interest rates, and those rates cannot continue to stay that low. "Buyers are likely going to appreciate what's happening the rest of this year, as it will be a slowing market. It won’t be a snail's pace market however, just becoming a normal market following a crazy one." —  Dave Nimick Connect with Dave Nimick: Website: https://thenimickteam.com/ Email: dave@thenimickteam.com YouTube: https://www.youtube.com/channel/UC4WqeMs62CL3T5P-w6ncqbQ/videos LinkedIn: https://www.linkedin.com/in/davenimick/ Facebook: https://www.facebook.com/thenimickteam Dave Nimick is owner of The Nimick Team, Inc. with Keller Williams Realty Show notes by Podcastologist: Chelsea Taylor-Sturkie Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.

Episode Notes

In this episode, Dave discusses:

• Similarities between current and 2005-2008. 
• Differences between now and the mortgage meltdown era.
• Dave’s predictions of what is going to happen in the next couple of years. 
• What factors are important in real estate predictions. 

Key Takeaways:

• Appreciation has been greater over the last few years than ever before.
• The underwriting process of mortgages has changed dramatically. Banks on the whole are a lot more responsible than they were before. 
• Average home owner equity is more than double what it was before the mortgage meltdown. It is currently the highest it has been since the late 1980s. 
• We are coming off the lowest rates in the history of interest rates, and those rates cannot continue to stay that low. 

"Buyers are likely going to appreciate what's happening the rest of this year, as it will be a slowing market. It won’t be a snail's pace market however, just becoming a normal market following a crazy one." —  Dave Nimick

Connect with Dave Nimick:

Website: https://thenimickteam.com/

Email: dave@thenimickteam.com

YouTube: https://www.youtube.com/channel/UC4WqeMs62CL3T5P-w6ncqbQ/videos

LinkedIn: https://www.linkedin.com/in/davenimick/

Facebook: https://www.facebook.com/thenimickteam

Dave Nimick is owner of The Nimick Team, Inc. with Keller Williams Realty

Show notes by Podcastologist: Chelsea Taylor-Sturkie

Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.